CyrusOne (CONE) Upgraded at BidaskClub
CyrusOne (NASDAQ:CONE) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.
A number of other brokerages also recently issued reports on CONE. Credit Suisse Group set a $73.00 price target on CyrusOne and gave the company a “buy” rating in a report on Wednesday, May 16th. BMO Capital Markets initiated coverage on CyrusOne in a report on Tuesday, July 17th. They issued an “outperform” rating and a $73.00 price target for the company. Bank of America upped their price target on CyrusOne from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, July 13th. Jefferies Financial Group increased their price objective on CyrusOne from $73.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, August 28th. Finally, Royal Bank of Canada increased their price objective on CyrusOne to $73.00 and gave the company a “market perform” rating in a report on Tuesday, August 7th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.13.
Shares of CONE opened at $68.51 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $6.67 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 1.24 and a beta of 0.82. CyrusOne has a 52-week low of $43.49 and a 52-week high of $68.70.
In related news, insider Gary J. Wojtaszek sold 10,000 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $66.50, for a total transaction of $665,000.00. Following the completion of the sale, the insider now directly owns 519,936 shares of the company’s stock, valued at $34,575,744. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert M. Jackson sold 1,514 shares of the stock in a transaction on Tuesday, July 3rd. The stock was sold at an average price of $60.00, for a total value of $90,840.00. Following the sale, the executive vice president now directly owns 29,799 shares of the company’s stock, valued at $1,787,940. The disclosure for this sale can be found here. Insiders sold 25,683 shares of company stock valued at $1,693,037 over the last three months. Corporate insiders own 1.64% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Trail Advisors LLC lifted its holdings in shares of CyrusOne by 6,756.5% during the first quarter. Summit Trail Advisors LLC now owns 113,406 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 111,752 shares during the period. Quad Cities Investment Group LLC acquired a new stake in shares of CyrusOne during the second quarter worth $164,000. NumerixS Investment Technologies Inc acquired a new stake in shares of CyrusOne during the second quarter worth $179,000. CIBC Asset Management Inc acquired a new stake in shares of CyrusOne during the second quarter worth $204,000. Finally, Bbva Compass Bancshares Inc. acquired a new stake in shares of CyrusOne during the second quarter worth $227,000. 98.10% of the stock is owned by hedge funds and other institutional investors.
CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including 200 Fortune 1000 companies.
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